I am sending over a quick recap of our conversation and the specific terms we discussed for your solar project. At EMPWR SOLAR, our goal is to make this process as transparent and “easy” as possible, a sentiment echoed by many of your neighbors in our 4.9 star Google Reviews.
Your system at a glance
25 panels, 11.0 kW, producing about 10,988 kWh a year.
Your actual roof layout from the design team.
What you pay every month, for 25 years
Orange is what you pay if you do nothing, your power bill climbing 7.5% a year. Green is what solar costs you all in, the loan payment plus the power bill you still receive after solar. The loan payment does not rise, it is fixed for the whole term. Green sits above orange in year one, and orange only overtakes it in year 12.
Your system
Where this lands
In year one this plan costs $131 a month more than doing nothing, because the loan payment of $252.49 sits on top of the $75 power bill you still receive. The payment does not rise, it is fixed for the whole term, so as your power bill climbs the gap closes and turns in your favor in year 12. Across the full 25 years the plan comes out $23,348 ahead of staying as you are.
Year by year
Your first five years, with all 25 a click away. Doing nothing starts at $196 a month and climbs 7.5% a year. The loan is fixed at $252.49. The power bill that remains starts at $75 and climbs with the utility. Figures in brackets are money out of your pocket.
| Year | Do nothing | Loan | Bill left | Solar all in | Difference / mo | Running total |
|---|---|---|---|---|---|---|
| 1 | $196 | $252 | $75 | $327 | ($131) | ($1,572) |
| 2 | $211 | $252 | $80 | $333 | ($122) | ($3,035) |
| 3 | $227 | $252 | $86 | $339 | ($112) | ($4,380) |
| 4 | $243 | $252 | $93 | $345 | ($102) | ($5,599) |
| 5 | $262 | $252 | $100 | $352 | ($90) | ($6,682) |
| 25 yr | $159,884 | $75,747 | $60,789 | $136,536 | $23,348 | $23,348 |
| Total 25-year savings | $23,348 | $23,348 | ||||
View all 25 yearsShow less
| Year | Do nothing | Loan | Bill left | Solar all in | Difference / mo | Running total |
|---|---|---|---|---|---|---|
| 6 | $281 | $252 | $107 | $359 | ($78) | ($7,619) |
| 7 | $302 | $252 | $115 | $367 | ($65) | ($8,399) |
| 8 | $325 | $252 | $124 | $376 | ($51) | ($9,011) |
| 9 | $350 | $252 | $133 | $385 | ($36) | ($9,441) |
| 10 | $376 | $252 | $143 | $395 | ($20) | ($9,676) |
| 11 | $404 | $252 | $154 | $406 | ($2) | ($9,701) |
| 12 | $434 | $252 | $165 | $418 | $17 | ($9,501) |
| 13 | $467 | $252 | $177 | $430 | $37 | ($9,059) |
| 14 | $502 | $252 | $191 | $443 | $59 | ($8,356) |
| 15 | $539 | $252 | $205 | $458 | $82 | ($7,374) |
| 16 | $580 | $252 | $220 | $473 | $107 | ($6,090) |
| 17 | $623 | $252 | $237 | $490 | $134 | ($4,483) |
| 18 | $670 | $252 | $255 | $507 | $163 | ($2,529) |
| 19 | $720 | $252 | $274 | $526 | $194 | ($200) |
| 20 | $774 | $252 | $294 | $547 | $228 | $2,530 |
| 21 | $833 | $252 | $317 | $569 | $264 | $5,693 |
| 22 | $895 | $252 | $340 | $593 | $302 | $9,320 |
| 23 | $962 | $252 | $366 | $618 | $344 | $13,446 |
| 24 | $1,034 | $252 | $393 | $646 | $389 | $18,109 |
| 25 | $1,112 | $252 | $423 | $675 | $437 | $23,348 |
The fine print
- This plan comes out ahead, but only over the long run. Over 25 years it comes to $23,348 less than staying with Virginia Tech Electric Service, but it does not start that way. In year one solar costs you $131 a month more than doing nothing, and the running total does not turn positive until year 20. Worth seeing plainly: this system prices your solar power at about $0.28 a kWh, the fixed payment spread over a year of production, against the $0.18 a kWh you pay Virginia Tech Electric Service today. Solar only comes out ahead here because the utility rate is assumed to keep climbing.
- What this compares. Your current average power bill of $196 a month, escalated at 7.5% per year, against what solar costs you all in: the loan payment plus the power bill you still receive after solar. Leaving that remaining bill out would make this plan look far better than it is.
- The loan payment is fixed at $252.49 a month for the full 25 year term. The loan amount is $35,350.00 at 9.49%. That figure assumes the $8,837.50 deferred portion, the federal credit, is paid onto the loan by its reamortization date. If it is not paid, the proposal says the payment rises to $332.27 a month, and every figure on this page would move against you.
- You still get a power bill. You stay connected to Virginia Tech Electric Service. The proposal puts that remaining bill at $75 a month in year one, which is 38% of what you pay now. An 88% offset does not take the bill to zero, and that remaining bill is included in every figure on this page.
- This is an estimate, not a contract. Production, rates and savings are projections. Nothing here is a guarantee.